Mark Ryan DIA President - Navigating The Road Ahead
Dear members and friends
With June fast approaching and all that comes with the mid year period, I wanted to draw your attention to a few things that flowed through
my head on my usual morning drive to open the shop this morning.
Firstly, the budget this week, has challenged us in the small business world, who are trying to prosper on our own, plan ahead to be
financially independent and raise our families with a view to a happy retirement later on. With small investors now uncertain of where
to turn, our large bank stocks taking a nose dive and a general rule of government that squashes aspiration, we are in for even more
trying times, in my view.
Those of you who have been around a while like me will know that history tells us what is coming next. The R word will ring those
bells we dont wish to hear. I hope it doesn't happen but best to plan ahead for slowing sales as our customer's discretionary spending
power is eaten away by the cost of fuel, food, energy and everything else.
With inflation in the too high range and trending upwards according to the Reserve Bank Governor, we will likely see more rate rises as the
Government's spending habits remain unchecked. Fantastic news if you have funds invested. Many in the small business sector
often get hit multiple times when rates go up as we run two sets of borrowings, business and personal. Along with running costs
escalating and our margins shrinking, our ability to draw off our businesses to lead an average lifestyle is greatly diminished.
June is a timely reminder that you should have had a look at your trading figures for the first three quarters of the year by now to
gauge your profit and hence your tax liabilities. Add BAS and Super payments on top of that and managing your cashflow at this time
is even more important than other times.
A couple of reminders :
- Have a look at some deductions you can pay prior to June 30. Meet with your accountant and ask the questions. By stock from our Allied suppliers or purchase a new van. Better in your pocket than Grim Jim the Treasurers'
- Secondly, your insurance renewals. The DIA office is across the latest trends and information, so please call. Remember a dollar or two saved here goes straight to your bottom line.
- Energy savings are also up for grabs through Choice Energy Brokers.
- Revisit your merchant service and its costs, be aware of the recent changes to the surcharging rules, a better deal may lie elsewhere.
Now while we cannot control government policy settings, we can control what goes on in our businesses. Costs, workflow and production
efficiencies can all be implemented no matter how long you have been in business, we can always learn something. We can also control
our attitude towards how we run our business, how we treat our customers and how we show positive vibes to our staff, even when we may not
be feeling that way. The glass half full approach is the way to go.
The DIA is a large family where we can share things we have in common. The office runs a few social media forums where you can engage
to promote discussions or chats with your fellow drycleaners.
All the best, hang in there, keep pushing that small business wheel barrow.
Please reach out anytime if you need a chat.
Kind regards
Mark Ryan
DIA President May 2026